The Business Council of the Shanghai Cooperation Organization (SCO) was established in 2006 in order to promote economic cooperation between the member states, as well as to establish the comprehensive dialogue between the SCO business circles on trade and investment issues.
The Council was established under the decision of the Council of the SCO Heads of states. The SCO Business Council is a non-governmental institution performing advisory functions and providing expert reviews of trade and investment cooperation and potential business engagement within the SCO.
The main mission of the SCO Business Council is to organize wide-ranging consultations and elaborate recommendations and suggestions to the SCO leaders on improving conditions for economic cooperation.
In accordance with the Statute on the SCO Business Council its key objectives include:
• facilitating effective regional cooperation among member states in the areas of common interest of the SCO business circles;
• establishing direct cooperation between the SCO business communities;
• organizing and holding exhibitions, conferences, seminars and other events;
• cooperating and strengthening ties with the authorities and business associations from the SCO as well as from other countries.
The SCO Business Council functions are determined by the SCO Charter, the SCO Program of Multilateral Trade and Economic Cooperation, the Program’s Action Plan, decisions of the SCO Council of Heads of States and the SCO Council of Heads of Governments, and other documents on economic policy.
The supreme body of the SCO Business council is the annual Session. The decisions taken on a consensus basis are mandatory for the Business Council. Three representatives from each of the Business Council National Branches and the Secretary of the Council are the members of the Business Council Board. Board meetings are held yearly. The Board is chaired by the President of the National Branch of the state chairing the SCO in a given year.
The Secretariat of the Business Council examines and summarizes proposals from the Secretariats of the National Branches, prepares a report for the annual Business Council Session and supervises the implementation of the Board and annual Session decisions.
Russia’s National Branch is headed by the President of the Chamber of Commerce and Industry of the Russian Federation Sergey Katyrin. It includes both leading Russian companies and business associations.
National Branches of other SCO member states are headed by:
• Yu Ping, Vice Chairman of China Council for the Promotion of International Trade;
• Raimbek Batalov, Chairman of the Kazakhstan Business Forum;
• Marat Sharshekeev, President of the Chamber of Commerce and Industry of Kyrgyzstan;
• Sharif Said, Chairman of the Chamber of Commerce and Industry of Tajikistan;
• Adkham Ikramov, Chairman of the Chamber of Commerce and Industry of the Republic of Uzbekistan.
SCO Business Council’s working languages are Russian and Chinese.